Examples of Seller’s Debt in a sentence
In connection with the first Permanent Financing, and in connection with any subsequent Senior Loan, on the date on which any Senior Lender first advances funds under its Senior Loan (not including any date on which a Tax Equity Provider advances funds used to pay another Senior Lender), Seller’s Debt to Equity Ratio shall not exceed nine (9).
Further, Buyer shall, in exchange for receipt of the Leases, discharge and forgive Seller’s Debt obligation.
Seller shall not create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable for, contingently or otherwise, any Seller’s Debt, or issue any disqualified stock, in each case, other than Seller’s Debt incurred, issued, assumed or guaranteed, or disqualified stock issued, in connection with the financing or refinancing of the development, construction, ownership or operation of the Project.
As of month end for [MONTH/YEAR], the ratio of Seller’s Debt to Adjusted Tangible Net Worth, does not exceed $[RATIO SET FORTH IN TRANSACTIONS TERMS LETTER].
On and after the CP Satisfaction Date, Seller shall not permit the amount of Seller’s Debt, to exceed the amount designated in Appendix 22.4.3 as applicable to each period described therein.